Hi Wikidate47, I noticed that you moved several dual-voltage EMUs at {{ JR East EMU}} from their respective sections to other sections, even though their articles clearly state they're dual-voltage in most cases. Could you please explain why you moved them? Thanks. XtraJovial ( talk) 05:28, 13 May 2022 (UTC)
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Happy editing! Cheers, 𝕁𝕄𝔽 ( talk) 18:29, 8 June 2023 (UTC)
We cannot say in wp:wikivoice that the JPY is a junk currency, because clearly that is not true. If you really want to know what a junk currency looks like, see Papiermark, Zimbabwean dollar#Abandonment and demonetisation or Venezuelan bolívar. The most we can say is that " The Asahi Shimbun says it is a junk currency" and even then we need to be clear: was this written in an editorial or is it an opinion piece? because it just comes across as journalistic hyperbole. So who wrote it?
The JPY is the world's third most held reserve currency: I see no sign that central banks around the world are dumping it. It is poor economics to regard the USD as neutral reference because that currency is just as subject to fads and speculation. The usual reference is the notional "basket of currencies" which contains proportional fractions of the currencies that Japan most trades with. The USD is important to Japan because oil and gas (of which Japan is heavy importer) are priced in USD so when the price of these commodities appreciates, the JPY will depreciate. Fact of life. Japan has other problems but a "junk currency" is not one of them. -- 𝕁𝕄𝔽 ( talk) 18:29, 8 June 2023 (UTC)
On <date>, Hosomi Rui (economics editor, The Asahi Shimbun) wrote critically about the continuing depreciation of the Yen against the US dollar, suggesting that it was becoming a junk currency.<citation>
On September 3, 2022, Rui Hosomi (Asahi Shimbun Economic Department) [1] described. In an interview with Izuru Kato of Totan Research, Izuru Hosomi (Economy Section of the Asahi Shimbun) said, "Due to the Bank of Japan's policies, the external value of the money we have accumulated has declined, and the cost of living has fallen. is rising," he said.
Is the Japanese Yen a “Junk Currency”? Depreciation than Russia and emerging market currencies
The yen has become a junk currency due to the excessive depreciation of the yen." Izuru Kato, chief economist at Totan Research and known as a "Bank of Japan watcher" who has analyzed the policy of the Bank of Japan for many years, said the yen had fallen below the 140 yen level against the dollar for the first time in 24 years . In response to this, he sounded a warning bell about the current situation of the yen. He also pointed out the impact of the Bank of Japan's policies, saying, 'The external value of the money we have accumulated has declined and the cost of living has risen.'
Yes, Google Translate does very well at translating that and it makes sense. The key point for Wikipedia is that Izuru Kato does not say that the JPY is (or is even likely to be) a "junk currency", so we can't claim that he does – nor, as I have already said, does AH: the journalist merely poses a rhetorical question. According to what I have read, there is a deliberate policy in Japan to create a 2% annual inflation rate: the deflation of the past 20 years has been unhealthy for the economy. (Here in the UK, we have 10% inflation – even more for food, 5% Bank of England rate, house prices expected to fall by 10% over the next two years, and a depreciating currency since Brexit. So maybe that explains why I have been pursuing this question!). So thank you for your replies: I have found this an interesting discussion and I hope you have too. In addition to the "suggested reading" in the welcome splash above, you might also want to read WP:verification and wp:cherrypicking. Once again, welcome to Wikipedia. -- 𝕁𝕄𝔽 ( talk) 15:53, 9 June 2023 (UTC)
References
Might you have you any interest in writing a short note about Tainome? See Talk:Bullet_(typography)#Tainome. Please don't feel obliged! 𝕁𝕄𝔽 ( talk) 10:31, 10 June 2023 (UTC)
Thanks for your contributions to Bigmotor. Unfortunately, it is not ready for publishing because it needs more sources to establish notability, it has too many problems of language or grammar and the references/citations are unclear, the text is not linked to citations and referencing is almost entirely absent. Assertions of scandals are not backed up by sources. The article requires significant cleanup and submission through the AfC process.. Your article is now a draft where you can improve it undisturbed for a while.
Please see more information at Help:Unreviewed new page. When the article is ready for publication, please click on the "Submit your draft for review!" button at the top of the page. Alexandermcnabb ( talk) 06:37, 20 July 2023 (UTC)
Stop changing numbers in articles without providing sources. People using Wikipedia need to be able to check that the information in articles comes from a reliable source. We do not want unverifiable information.-- Toddy1 (talk) 21:43, 25 October 2023 (UTC)
日本が世界の金融システムにどのような脅威を与えているか 海外債券の巨大で信頼できる買い手は財布を閉じようとしているかもしれない
2023 年 11 月 2 日 日本銀行(boj)はハロウィーンのスリラーを届けることに失敗した。 近年、他の中央銀行が金利を引き上げているにもかかわらず、日銀は成長促進を目的とした超緩和政策を堅持している。 日本の基準金利は-0.1%で7年間続いている。 そして10月31日、圧力が高まっていたにもかかわらず、中銀は10年国債利回りの上限を微調整することを決定しただけだった。 銀行が防衛するために巨額の債券買い入れを行っている1%の利回り上限は、現在ではルールではなく参考となっている。 実際、ベンチマーク債券の利回りは0.95%で、ここ10年以上で最高となっている(グラフを参照)。
日銀の発表後、円は1ドル=151円まで下落し、数十年ぶりの安値となった。 インフレは長く停滞していたが、もはやそれほど低くはなくなった。日銀は今後3年間の基調的な「コア」インフレの予測を引き上げた。 アナリストの多くは、中銀が来年初めにイールドカーブコントロール政策を完全に終了し、4月までに利上げを実施すると予想している。 しかし、日銀が最終的に金利を引き上げたとしても、それはほんの数パーセントポイントになる可能性が高く、日本の国債利回りと世界の国債利回りとの格差は依然として大きく、世界の金融に重大な影響を与えることを意味する 市場。 恐怖はまだこれからだ。
その理由を理解するには、日本の最低金利と債券利回りを抑制するための継続的な介入が与えた影響を考えてみましょう。 投資家がより良いリターンを求める中、国内の低金利が海外資産への需要を生み出している。 昨年、日本の海外投資から得た収入は、海外投資家が日本で得た収入を上回る2,690億ドルに達し、世界最大の黒字となり、日本のGDPの6%に相当する。 日本と世界の債券利回りの大きな差は現在、外国債券を購入している日本の投資家と日本の慣習から恩恵を受けてきた世界の発行体の両方に危険をもたらしている。
海外に大規模な投資を行っている日本最大手の金融会社では、危機が特に顕著だ。 海外投資のヘッジコストは、関係する 2 つの通貨の短期金利の差によって異なります。 米国の短期金利は日本の同等金利を5%ポイント以上上回っており、その差は米国の10年国債利回り4.8%を上回っている。 これは、日本の買い手がドルで長期債を購入し、そのエクスポージャーをヘッジする際に確実に損失を被ることを意味する。 だからこそ、為替リスクのヘッジに最も熱心な金融機関の一つであるこの国の生命保険会社が、昨年11.4兆円(870億ドル)の外債を放出したのである。
短期金利の大きな差は、日本の投資家の選択肢がより限られていることを意味します。 1 つは海外での購入を続けることですが、リスクはより大きくなります。 昨年それぞれ40兆円以上の資産を保有していた明治安田生命保険と住友生命は、急激な為替変動をヘッジせずに海外債券購入を増やすと述べ、事実上急激な円高に賭けている。 生命保険会社は通常保守的ですが、巨大な金利差が長く続くほど、リスクを取るよう促されることになります。
一方、長期日本の国債利回りの上昇は、日銀がイールドカーブコントロールを放棄すればさらに上昇するのは確実で、国内投資家が資金を持ち帰ろうとする可能性がある。 日本の40年債の利回りは2.1%で、日銀がインフレ率2%の目標を達成したとしても投資家の資本を維持するには十分だ。 銀行ウエストパックのマーティン・ウェットン氏は、この見通しは、日本の債券に対する貪欲な欲求に慣れていたアメリカやヨーロッパの企業や政府を懸念させるはずだと言う。
このようなシナリオでは、需要の源泉が西側の企業や政府の資金調達に対する圧力の源泉となるだろう。 その後、日本の投資家が外貨建ての債券を売却し、国内で新たな投資を行うため、円が急騰する可能性がある。 JPモルガン・アセット・マネジメントのボブ・ミシェル氏は、10年にわたる資本の本国送還について警告する。
10年間にわたる世界中の金融緩和政策の中で現れた、世界への日本の資本の流れは、減少する可能性が高いと思われる。 その結果生じる痛みを国内金融機関が感じることになるのか、外国債券発行会社が感じることになるのか、あるいはその両方が感じることになるのかは、今後数カ月のうちに明らかになるだろう。 すでに明らかなことは、それは誰かに感じられるだろうということです 𝕁𝕄𝔽 ( talk) 20:22, 15 November 2023 (UTC)
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Hello. Your recent edit to List of online databases appears to have added the name of a non-notable entity to a list that normally includes only notable entries. In general, a person, organization or product added to a list should have a pre-existing article before being added to most lists. If you wish to create such an article, please first confirm that the subject qualifies for a separate, stand-alone article according to Wikipedia's notability guideline on the English Wikipedia— Write the article first. Each different Wikipedia site has its own rules, so it is not relevant whether a different site has an article. Thank you. DMacks ( talk) 13:17, 16 January 2024 (UTC)
On en.wikipedia, we are not permitted to give our own analysis of events (see WP:no original research). I reverted your edit for that reason. The spot rate of ¥/$ is of no significance: FOREX rates move constantly and WP: Wikipedia is not a newspaper. When someone who is themself notable makes a statement about it, then we can include that statement. Meanwhile, let the table of monthly averages do the work, no comment needed. 𝕁𝕄𝔽 ( talk) 09:12, 27 March 2024 (UTC)
The international press is reporting unnamed "sources close to the BOJ" as saying that it is "poised to intervene in the markets" to halt or slow yen depreciation. (For example, Japan yen: Authorities hint at intervention option By Tetsushi Kajimoto March 28, 2024, Reuters.) Right now, that information fails wp:notnews because usually such deliberate "rumours" are just intended as a warning to foreign exchange speculators that they could be left with large losses when the bank intervenes. So maybe they will stop speculating and save everybody a lot of irritation.
But if the BOJ really does intervene, that will certainly be an important development and one that we must report. I expect that you are already watching the news to see if it happens? -- 𝕁𝕄𝔽 ( talk) 18:48, 2 April 2024 (UTC)
I don't know if you can read it for free but I recommend this editorial in The Economist:
Japan is wrong to try to prop up the yen
Supporting the currency is expensive and futile
It is easy for investors to lose a fortune in the financial markets—and even easier for governments. In 2022 Japan spent more than $60bn of its foreign-exchange reserves defending the yen, its first intervention to strengthen the currency since 1998, after the exchange rate fell to nearly ¥146 to the dollar. And for what? Today the yen is weaker still. Yet instead of learning that fighting the market is futile, policymakers are repeating the mistake.
The essential argument is that the US Federal Reserve has an interest rate of 5.5% because US inflation remains a big problem. The BoJ has an interest rate of 0.5% because deflation in Japan is still a real risk. So a smart currency trader will borrow a few trillion yen for a year at <1%, sell for dollars to invest at >5%. After a year, reverse the transaction, get more yen than they borrowed and pocket the fat American interest check. It is a no-brainer. It makes no sense for the BoJ to copy the Fed just to save face.
The article concludes
The Japanese government’s urge to intervene is driven by a combination of political calculation and national pride. A cheaper yen makes imports, most notably of energy, more expensive, which is painful for voters. There is no doubting Japan’s firepower: at last count it had almost $1.3trn of foreign-exchange reserves to run down. But it is a waste to spend them doing battle with currency traders who—thanks to the choices of Japan’s own policymakers not to follow the Fed—have good reasons to be selling yen and buying dollars.
-- 𝕁𝕄𝔽 ( talk) 19:46, 11 May 2024 (UTC)
You may be interested to see that the Financial Times agrees with The Economist that intervention is a pointless waste of money: The limits of yen intervention -- 𝕁𝕄𝔽 ( talk) 23:19, 15 May 2024 (UTC)
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I edited your addition to Euro#Against other major currencies to add some context for European readers. Do you have a convenient citation you could add, please? 𝕁𝕄𝔽 ( talk) 11:44, 28 June 2024 (UTC)
Hello, I see that you’ve been quite active in editing articles related to Japan’s economic stagnation and the ongoing weak yen. It’s a good thing overall to add information that has only been available in Japanese to English Wikipedia, but please note that this is not a platform to advertise your own views about the status of Japan’s economy by citing yellow journalism in Japanese in a way that is taken out of context.
For example, in migrant worker#Japan, you dedicated a lengthy chapter to letting international readers know your view that Japan has become extremely poor and nobody wants to work here, while Japanese people are trying to get out of the country to work overseas. However, the fact is that Japan is a net importer of labour. For instance, working holiday visas to Australia, which you mentioned as one of the most attractive work-abroad destinations for Japanese people, were issued to 14,398 Japanese nationals in 2022/2023, but this is only a 20% increase since 2018/2019. ( source) This is despite the fact that there’s no maximum number for the issuance of this visa. During this period, foreign workers in Japan increased by 40%. ( source)
I’ve seen similar edits from you on articles like Lost Decades, Economy of Japan, and Hard currency. Living in Japan, I’m also aware that the economic stagnation and weak yen have had detrimental effects on some sectors of the economy. However, your attitude of trying to advertise your specific views using yellow journalism in Japanese on this platform, which is supposed to be neutral, does not seem right. If you want to let international people know that you think Japan is not the right place to work, or this country has no bright future, you should start your own blog instead. -- VersedVoyager67 ( talk) 03:41, 15 July 2024 (UTC)
There is an article in The Economist that may be of interest to you? Search Google news for "Japan's strength produces a weak yen". It is an interesting dig into the fundamentals rather than the simplistic "currency manipulators" narrative. 𝕁𝕄𝔽 ( talk) 08:41, 25 July 2024 (UTC)
Thanks for your contributions to Utsunomiya High School. Unfortunately, I do not think it is ready for publishing at this time because it has no sources. I have converted your article to a draft which you can improve, undisturbed for a while.
Please see more information at Help:Unreviewed new page. When the article is ready for publication, please click on the "Submit your draft for review!" button at the top of the page OR move the page back. Waqar 💬 06:53, 28 July 2024 (UTC)
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